Cloud POS Solutions Reshaping Operations in the Retail Sector

Kutubkhan Bohari | July 14, 2022 | 454 views

Cloud POS article
Until recently, most brick-and-mortar retail stores relied on local platforms to save their point-of-sale (POS) data, such as transaction records and product price lists. These include a variety of solutions, ranging from larger network servers to on-premises PCs or servers used by service providers. However, a large number of retailers are shifting their business operations to online platforms, with cloud POS emerging as a trailblazer in the transition. 

Retailers are heavily investing in the development of digital payments, contactless, and cashless transactions and have begun to implement innovative point of sale (POS) solutions to improve their bottom lines in the long run.


Cloud POS Providers Responding to Transition

Over the years, POS platforms, especially cloud-based POS, have evolved into robust platforms capable of integrating a wide range of retail operations, including data analytics, accounting, inventory, accounting, and marketing.

This evolution of POS platforms from traditional to cloud-based has manifested itself in a variety of ways, ranging from increased inventory management efficiency to improved user experience, data security, disaster management, and increased profitability, positioning themselves solutions as an imperative retail tool, today.

On account of the rising awareness regarding the merits of integrating cloud technology, approximately 52 percent of corporate firms have fully migrated to cloud POS solutions, with more than 40 percent planning to follow the same, as per a study. Citing the trend, cloud POS solutions are anticipated to exceed $9 billion by the end of 2026.

Leading industry players are riposting to this transition in earnest by launching innovative products designed to address the need for advanced POS solutions across the retail sector. For instance, in 2022, Visa unveiled a new cloud-based payment platform, Visa Acceptance Cloud (VAC), which can transform almost every device into a cloud-connected payment terminal.


The Future’s Story

In this digital disruption era, enterprises are gearing up to invest in innovative technologies and enter the new software market. One of these is the cloud-based POS system, which has permitted retail stores to manage customer data and handle sales and inventory digitally. POS software has clearly benefited all business domains, but it has completely transformed the retail sector's facet, making it more progressive, tech-savvy, and customer-oriented.

Spotlight

FreedomPay

The FreedomPay Commerce Platform is the best way for merchants to simplify complex payment environments. Validated by the PCI Security Standards Council for Point-to-Point Encryption (P2PE) along with EMV, Tokenization, Contactless and DCC capabilities, global leaders in retail, hospitality, gaming, education, healthcare and financial services trust FreedomPay to deliver unmatched security and advanced value added services.

OTHER ARTICLES
POS SOLUTIONS,CLOUD BASED POS

Impact of Cashless Transactions on Third-Party Payments

Article | July 12, 2022

In recent years, with the progression and development of information technology and the Internet, the third-party payment platform has experienced immense up-gradation. This has resulted in facilitating people's lives to a great extent and simplifying and transforming the method of payment. With the accelerated advancement in the era of the Internet and the significant rise in the scale of third-party payment transactions, in comparison to the conventional mode of payment, these solutions have substantially increased people's consumption power by not only making operations more convenient and reducing transaction costs, but also by safeguarding the rights and interests of both parties. Shift Towards Cashless Transactions Bolstering the Third Party Payments There is a rapid shift towards the use of cashless point-of-sale (POS) solutions, driven by the growing digitalization. According to a study, nearly 82 percent of the population in the U.S. are using digital or cashless payments—defined to include in-app or browser-based online purchases, QR codes, in-store checkout using a mobile phone, and person-to-person (P2P) payments. Citing the trend, about 27% of consumers and around 32% of business owners said they believe the U.S. will become a completely cashless society in the coming future. Third-party payment solutions add functionality to the cashless transactions and act as payment aggregators, providing freedom and flexibility to customers to select the solutions they find most favorable to meet their financial needs. Therefore, with increasing cashless transactions, third-party payment solutions will gain huge traction across the POS sector. What’s Next? With the improvement in the urbanization level, the continuous growth of the urban population, and the appeal of third-party payment solutions, it is crucial to tap into the spending potential of customers. Hence, leading POS solution providers are emphasizing on development and introduction of new third-party and mobile POS systems. For instance, Paynear Solutions Pvt. Ltd., a financial technology company, announced the launch of a third-party omnichannel cashless solution under an umbrella through a mobile PoS solution, enabling all the business owners signed up with Paynear to seamlessly accept UPI transactions.

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POS RETAIL

8 POS Software Trends for 2022: New Forecasts and What's Next 2

Article | August 12, 2022

When the pandemic first started, most retail stores had to close, and some even suffered financial losses. Know more how retailers up scaled their businesses. Online shopping is quickly becoming the new norm in the wake of the COVID-19 pandemic. Most retailers had to migrate their businesses to the cloud in order to meet the current demands of highly tech-savvy consumers, and the use of POS software has become more important than ever. A cloud-hosted POS solution is no longer an option for small and large businesses, but rather a requirement. POS systems have provided retailers with a more efficient way to track inventory and manage sales, replacing the old cash register and traditional methods of selling. As ecommerce grows, POS solutions play an important role in increasing convenience for online customers and providing a customer-centric experience. To keep up with the latest POS system developments, there is a list of the most important POS software trends to watch for. By understanding current POS software adoption reports and key insights, you can maximize the potential of your existing POS solution or, better yet, have better ideas on financing trends by POS that can bring value to your retail business. Consumers had to reorient their purchasing toward needs like food, medicine, and other home items as the viral pandemic threatened everyone's health and safety. The US Census Bureau recently released a report that found that throughout the pandemic, retail stores providing food and beverages saw the biggest monthly growth in retail sales. To better understand how POS systems are assisting retailers in overcoming the challenges posed by the rapidly changing retail landscape, here’s a list of the most recent and importantPOS software trends: Cashless Transactions via Mobile POS Systems Adoption of Cloud-Hosted POS Systems Multichannel Commerce Customer Layout Programs Personalized Shopping Experience AI Integration in POS Systems Use of POS Data Analytics Simple POS Hardware Investing in modern POS systems and maximizing their rich feature sets can help your retail business go a long way, from attracting new customers to retaining a loyal customer base that can drive sales and support your long-term growth.

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RESTAURANT POS

Point-of-Sale Systems to Emerge as a Necessity for Modern Retailers

Article | September 22, 2022

Innovative POS systems with built-in advanced inventory management and secured payments to mandate their adoption by retailers. For businesses and retailers, conventional cash registers have long been an important part of sales operations during the past few years. But today, the cash registers of even the smallest of businesses are attached to a computer through "point-of-sale" (POS) systems. These novel solutions have garnered huge popularity over traditional cash registers as they not only ring up the sales but also provide crucial and real-time information about the customer and inventory. The importance of POS systems goes way beyond managing transactions at checkout counters across the retail industry. Emphasis on Improving Customer Experience Demands POS Adoption: With a growing fast-paced lifestyle, customers around the world are opting for faster, and more convenient shopping and billing experiences. Reassuring customers that their transactions are secure significantly increases satisfaction and customer loyalty. Since novel POS systems assist in providing faster checkout, flexibility in payment options, highly secured payments, and a seamless billing experience, these POS systems are extensively being adopted by modern retailers. According to a study, retailers across the U.S. lose nearly $45 billion, due to insufficient inventory in stock, and $224 billion, due to excess inventory. POS systems help in managing the inventory, resulting in declining losses by preventing excess or insufficient inventory. An estimate states that, an independent retailer with a $400,000 revenue can cut costs by nearly 10%, saving an average of $40,000 per year. What Comes Next? With technology getting better and new POS solutions like cloud-based, mobile, cashless payment, and others coming out, retailers are extensively installing POS solutions to make it easy for customers to pay. For instance, Veras Retail and ACCEO Solutions Inc., an American company specializing in all types of electronic payment transactions, announced plans to install their respective payment middleware solutions and point-of-sale software solutions in National Stores locations across Puerto Rico and the U.S. Hence, the growing focus on enhancing in-store customer experience and customer retention is mandating modern retailers to deploy POS solutions.

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POS RETAIL

Retail Industry Forecast for 2022

Article | July 8, 2022

While retail has faced its fair share of challenges over the last two years, the pandemic has also provided an opportunity for a long-overdue great retail reset, which could help many retailers move into a more stable—and profitable—position. To get there, you must balance short-term challenges with long-term commitments and transformational thinking. For nearly two years, predictions about the future of retail have appeared pessimistic, and retail headlines for 2022 don't look much better: empty store shelves, over one million unfilled retail jobs1, and surging inflation. However, these headwinds have resulted in some positive outcomes: retailers have been forced to re-examine legacy systems and strategies that have shaped the industry for years. To reap long-term and long-lasting benefits, retailers should continue down the remediation path they started at the start of the pandemic in 2022. Indeed, the next 12 months’ present opportunities to restructure obsolete supply chains, rightsize inventory management, review pricing, rebalance promotional cadences, and reinvent the physical store for the digital age. This will almost certainly necessitate entirely new ways of thinking and long-term commitments from retailers, but these efforts have the potential to forever change the way retailers do business. That future begins today by addressing short-term retail challenges with a long-term perspective. Three retail industry priorities and trends The resulting data, when combined with insights from 15 Deloitte retail subject-matter specialists, client work, and prior research, provides a snapshot of strategies and investment plans that help inform the industry's future. Reimagine the workforce Supply chain resiliency Digital revolution Retailers face significant challenges that will almost certainly outlast the pandemic, but there are also unexpected opportunities that can help them prepare for future disruptions. Retailers should embrace the current disruption and commit to a future pivot. To learn more, download our complete 2022 retail industry outlook.

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Spotlight

FreedomPay

The FreedomPay Commerce Platform is the best way for merchants to simplify complex payment environments. Validated by the PCI Security Standards Council for Point-to-Point Encryption (P2PE) along with EMV, Tokenization, Contactless and DCC capabilities, global leaders in retail, hospitality, gaming, education, healthcare and financial services trust FreedomPay to deliver unmatched security and advanced value added services.

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POS SOLUTIONS,CLOUD BASED POS

Alight Announces Launch of Payment Services

alight | August 30, 2022

Alight, Inc, a leading cloud-based human capital technology and services provider, today announced the launch of Alight Payment Services, a new solution offering global companies a simplified, end-to-end payroll and payments process.Alight Payment Services, powered by Ebury, is a new offering available to organizations looking to streamline their payroll processes, control costs and reduce the administrative burden of global bank transaction management. “Knowing the hurdles global companies face when it comes to payroll and payments, we’re thrilled to offer a technology platform that alleviates that burden and simplifies procedures for them, “Alight Payment Services adds to our already-strong global payroll capabilities and allows us to continue to help organizations streamline their payment processes in a seamless way to increase efficiency.” Cesar Jelvez, chief professional services and global payroll officer at Alight. “We are delighted to be powering Alight’s new Payment Services solution. Our market-leading platform will support Alight in providing their international client-base with reliable, fast payments across multiple currencies,” said Owain Walters, global head of mass payments at Ebury. “Alight & Ebury’s strategic ambitions are well-aligned as we both continue to expand our services globally to simplify the international payroll payment process for businesses across the world.” Key features of Alight Payment Services: Simplified global payment processing: The solution is available in more than 140 currencies and can be managed without having to maintain in-country bank accounts. Single currency settlement: Works for multi-country employee deposits and third-party payments such as those made by tax and regulatory agencies and employee benefit providers. Global payroll enhancements: Payment Services provides full track-and-trace capabilities for status reporting on global payments and transactions while maintaining accuracy, compliance and secure payment delivery. Streamlined reporting: Complete bank reconciliations that save time on payroll administration and integrate with payroll and ERP systems. About Alight Solutions Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions

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Netcetera Advances Seamless Payments with PayTabs

Paytabs | August 05, 2022

Swiss software expert Netcetera is enabling secure payments in the Middle East, Africa and South Asia region with their 3DS acquiring server solution for PayTabs. The 3DS server is an important piece in the puzzle for PayTabs, an award winning payment processing powerhouse, offering social commerce, digital and next-generation payment solutions across the MEASA region. PayTabs has been a formidable player in the payment ecosystem for almost a decade, offering freelancers, SMEs, banks and super merchants enhanced payment processing services and technology to process and orchestrate integrated payments. PayTabs operates in multiple markets in the MEASA region with plans to expand into more emerging and frontier markets. Being a PCI certified payment services provider, security is a key priority for PayTabs. The search for a suitable provider to upgrade its 3DS server, has led PayTabs to reach a strategic alliance with Netcetera, a Swiss software expert offering a world-class 3DS server and solutions, comprehensive and tailored to meet PayTabs’ payment processing requirements. Netcetera’s 3DS solutions makes it possible for PayTabs to offer authentication and verifying users’ identity. This not only ensures easy online payment whether using a computer, tablet, or mobile, it also prevents card fraud. Netcetera’s diligence, EMVCo certification and many years of experience implementing 3DS solutions for global customers all have contributed to PayTabs decision. "This is a great step forward for our business. E-commerce is booming in the MEASA region and having a secure acquiring solution is a key part of guaranteeing customers seamless, yet secure payments. The collaboration has been smooth, and we look forward to continuing it." -Taff Morris, VP Divisional Head of SaaS at PayTabs. Jad Bejjani, Senior Business Development Executive at Netcetera added Carrying out this project successfully has meant bringing a new dimension of security to online payments in a B2B context. About Netcetera: Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,000 banks and issuers, and 150,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with additional locations across Europe, Asia, and the Middle East. About Paytabs: PayTabs is an award winning B2B payments solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf. Having processed the first live payment gateway transaction in June 2014, today PayTabs processes transactions in multiple currencies, safely and securely. Using API plugins, PayTabs facilitates seamless B2B ecommerce solutions for SMEs across numerous industries to ‘plug and play’ payment features on to their websites. PayTabs prides itself on offering electronic invoicing services enabling businesses to enjoy digital invoicing, pay by QR code or secure social media payment links. Originally backed by Saudi Aramco’s "Waed" and later by private Saudi investment, over the years, PayTabs has in-built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the MENA region. In 2021, PayTabs launched PT Touch, the first soft POS solution in the MENA market to transform smart phones into merchant point of sale (POS) terminals. More recently, PayTabs launched its own social commerce platform, Paymes to facilitate payments for the micro merchant community. Recently, PayTabs made a leapfrog move to pioneer next generation payments, by launching its home owned, globally validated unified payments and next generation transaction processing platform - PayTabs SwitchOn®. A proven game changer in the global payments space, PayTabs has dedicated offices in the UAE and KSA and presence in many other locales including Egypt. The company is an equal opportunities employer with a diverse and multi-cultural team comprising of over twenty nationalities.

Read More

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Circle Announces Acquisition of Elements to Accelerate Crypto Payments

Circle | October 03, 2022

On stage at Converge22 today, Circle announced an accelerated crypto payments roadmap enhanced by the recent acquisition of Elements, a merchant and developer-first payments orchestration platform. The announcement includes plans to quickly scale payment offerings to unlock utility value for crypto and lower the barrier of entry for merchants to access next-gen payments and financial services.The new payment offerings make it simple for merchants to integrate their existing PSP relationships with Circle's crypto payment offerings. "We are very impressed by the Elements team for their work in taking the complexity out of crypto payments,Lowering barriers of entry for payments and financial services and establishing dollar payments utility are core to Circle's mission. Providing well-designed payment products that can facilitate seamless, efficient, frictionless and delightful customer experiences are key to empowering merchants to take advantage of these next-gen payment solutions." Nikhil Chandhok, Chief Product Officer at Circle As the issuer of both USD Coin (USDC) and Euro Coin (EUROC), Circle is uniquely positioned to promote digital payments and an always-on financial system as native features of the internet. More than $49 billion USDC is in circulation as of Sept. 28, 2022, and it has powered more than $5 trillion in on-chain transactions since its 2018 inception. Creating a payments platform that allows merchants to accept USDC and other crypto payments at the point-of-sale is a natural progression of the growing global adoption of digital currencies.Elements' mission is to put more money into the hands of merchants. With Circle, we knew the natural synergy in our business models would create an opportunity to deliver a seamless and low cost payments and settlement experience for merchants using a digital currency they can trust," said Nafis Jamal, Founder and CEO at Elements,Today's news is only the beginning of our joint mission to deliver first-class payments offerings and define the next generation of payments. Jamal and Hao Min, co-founders of Elements, joined Chandhok onstage at Circle's inaugural Converge22 conference to demo Circle's Crypto Payments API which is available in beta today as well as the one-stop checkout SDK for crypto merchants which will be available in Q4 2022. Please visit here to learn more about Circle's Crypto Payments API. About Circle Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of value.

Read More

POS SOLUTIONS,CLOUD BASED POS

Alight Announces Launch of Payment Services

alight | August 30, 2022

Alight, Inc, a leading cloud-based human capital technology and services provider, today announced the launch of Alight Payment Services, a new solution offering global companies a simplified, end-to-end payroll and payments process.Alight Payment Services, powered by Ebury, is a new offering available to organizations looking to streamline their payroll processes, control costs and reduce the administrative burden of global bank transaction management. “Knowing the hurdles global companies face when it comes to payroll and payments, we’re thrilled to offer a technology platform that alleviates that burden and simplifies procedures for them, “Alight Payment Services adds to our already-strong global payroll capabilities and allows us to continue to help organizations streamline their payment processes in a seamless way to increase efficiency.” Cesar Jelvez, chief professional services and global payroll officer at Alight. “We are delighted to be powering Alight’s new Payment Services solution. Our market-leading platform will support Alight in providing their international client-base with reliable, fast payments across multiple currencies,” said Owain Walters, global head of mass payments at Ebury. “Alight & Ebury’s strategic ambitions are well-aligned as we both continue to expand our services globally to simplify the international payroll payment process for businesses across the world.” Key features of Alight Payment Services: Simplified global payment processing: The solution is available in more than 140 currencies and can be managed without having to maintain in-country bank accounts. Single currency settlement: Works for multi-country employee deposits and third-party payments such as those made by tax and regulatory agencies and employee benefit providers. Global payroll enhancements: Payment Services provides full track-and-trace capabilities for status reporting on global payments and transactions while maintaining accuracy, compliance and secure payment delivery. Streamlined reporting: Complete bank reconciliations that save time on payroll administration and integrate with payroll and ERP systems. About Alight Solutions Alight is a leading cloud-based human capital technology and services provider that powers confident health, wealth and wellbeing decisions for 36 million people and dependents. Our Alight Worklife® platform combines data and analytics with a simple, seamless user experience. Supported by our global delivery capabilities, Alight Worklife is transforming the employee experience for people around the world. With personalized, data-driven health, wealth, pay and wellbeing insights, Alight brings people the security of better outcomes and peace of mind throughout life’s big moments and most important decisions

Read More

POS SOLUTIONS,CLOUD BASED POS

Netcetera Advances Seamless Payments with PayTabs

Paytabs | August 05, 2022

Swiss software expert Netcetera is enabling secure payments in the Middle East, Africa and South Asia region with their 3DS acquiring server solution for PayTabs. The 3DS server is an important piece in the puzzle for PayTabs, an award winning payment processing powerhouse, offering social commerce, digital and next-generation payment solutions across the MEASA region. PayTabs has been a formidable player in the payment ecosystem for almost a decade, offering freelancers, SMEs, banks and super merchants enhanced payment processing services and technology to process and orchestrate integrated payments. PayTabs operates in multiple markets in the MEASA region with plans to expand into more emerging and frontier markets. Being a PCI certified payment services provider, security is a key priority for PayTabs. The search for a suitable provider to upgrade its 3DS server, has led PayTabs to reach a strategic alliance with Netcetera, a Swiss software expert offering a world-class 3DS server and solutions, comprehensive and tailored to meet PayTabs’ payment processing requirements. Netcetera’s 3DS solutions makes it possible for PayTabs to offer authentication and verifying users’ identity. This not only ensures easy online payment whether using a computer, tablet, or mobile, it also prevents card fraud. Netcetera’s diligence, EMVCo certification and many years of experience implementing 3DS solutions for global customers all have contributed to PayTabs decision. "This is a great step forward for our business. E-commerce is booming in the MEASA region and having a secure acquiring solution is a key part of guaranteeing customers seamless, yet secure payments. The collaboration has been smooth, and we look forward to continuing it." -Taff Morris, VP Divisional Head of SaaS at PayTabs. Jad Bejjani, Senior Business Development Executive at Netcetera added Carrying out this project successfully has meant bringing a new dimension of security to online payments in a B2B context. About Netcetera: Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,000 banks and issuers, and 150,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with additional locations across Europe, Asia, and the Middle East. About Paytabs: PayTabs is an award winning B2B payments solutions powerhouse founded by Saudi entrepreneur Abdulaziz Al Jouf. Having processed the first live payment gateway transaction in June 2014, today PayTabs processes transactions in multiple currencies, safely and securely. Using API plugins, PayTabs facilitates seamless B2B ecommerce solutions for SMEs across numerous industries to ‘plug and play’ payment features on to their websites. PayTabs prides itself on offering electronic invoicing services enabling businesses to enjoy digital invoicing, pay by QR code or secure social media payment links. Originally backed by Saudi Aramco’s "Waed" and later by private Saudi investment, over the years, PayTabs has in-built and exported a full stack of game changing solutions. These include mobile applications, hospitality, governmental, education, airline, travel, transport, and biller solutions, to interlink the multi-billion-dollar enterprise market chain in the MENA region. In 2021, PayTabs launched PT Touch, the first soft POS solution in the MENA market to transform smart phones into merchant point of sale (POS) terminals. More recently, PayTabs launched its own social commerce platform, Paymes to facilitate payments for the micro merchant community. Recently, PayTabs made a leapfrog move to pioneer next generation payments, by launching its home owned, globally validated unified payments and next generation transaction processing platform - PayTabs SwitchOn®. A proven game changer in the global payments space, PayTabs has dedicated offices in the UAE and KSA and presence in many other locales including Egypt. The company is an equal opportunities employer with a diverse and multi-cultural team comprising of over twenty nationalities.

Read More

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Circle Announces Acquisition of Elements to Accelerate Crypto Payments

Circle | October 03, 2022

On stage at Converge22 today, Circle announced an accelerated crypto payments roadmap enhanced by the recent acquisition of Elements, a merchant and developer-first payments orchestration platform. The announcement includes plans to quickly scale payment offerings to unlock utility value for crypto and lower the barrier of entry for merchants to access next-gen payments and financial services.The new payment offerings make it simple for merchants to integrate their existing PSP relationships with Circle's crypto payment offerings. "We are very impressed by the Elements team for their work in taking the complexity out of crypto payments,Lowering barriers of entry for payments and financial services and establishing dollar payments utility are core to Circle's mission. Providing well-designed payment products that can facilitate seamless, efficient, frictionless and delightful customer experiences are key to empowering merchants to take advantage of these next-gen payment solutions." Nikhil Chandhok, Chief Product Officer at Circle As the issuer of both USD Coin (USDC) and Euro Coin (EUROC), Circle is uniquely positioned to promote digital payments and an always-on financial system as native features of the internet. More than $49 billion USDC is in circulation as of Sept. 28, 2022, and it has powered more than $5 trillion in on-chain transactions since its 2018 inception. Creating a payments platform that allows merchants to accept USDC and other crypto payments at the point-of-sale is a natural progression of the growing global adoption of digital currencies.Elements' mission is to put more money into the hands of merchants. With Circle, we knew the natural synergy in our business models would create an opportunity to deliver a seamless and low cost payments and settlement experience for merchants using a digital currency they can trust," said Nafis Jamal, Founder and CEO at Elements,Today's news is only the beginning of our joint mission to deliver first-class payments offerings and define the next generation of payments. Jamal and Hao Min, co-founders of Elements, joined Chandhok onstage at Circle's inaugural Converge22 conference to demo Circle's Crypto Payments API which is available in beta today as well as the one-stop checkout SDK for crypto merchants which will be available in Q4 2022. Please visit here to learn more about Circle's Crypto Payments API. About Circle Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is powering always-on internet-native commerce and payments and is the issuer of USD Coin (USDC) and Euro Coin (EUROC). Today, Circle's transactional services, business accounts, and platform APIs are giving rise to a new generation of financial services and commerce applications that hold the promise of raising global economic prosperity for all through the frictionless exchange of value.

Read More

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